Outline how you would create annual budgeted financial statements.

Overview
You are hired as a new cost accountant at Ciccetti Corporation. The company manager, David, is having a meeting with you in his office. He brought you this budgeted income statement that was completed by the previous cost accountant. David asks you to provide him with a report explaining the statement in clear, straightforward language, and how you plan to handle the annual budget.
Write a 2-3 page report in which you:
1. Explain the budgeted income statement.
2. Outline how you would create annual budgeted financial statements.
3. Analyze the difference between a static budget and a flexible budget, including the importance of each.
4. Evaluate the importance of reading and correctly interpreting budgeted financial statements.
5. Use three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment.

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